Job Market for Youth Still Looks Bleak

The labor market for young college graduates improved last month, but for youths in general the job market still looks bleak.

The unemployment rate for college graduates between 20 and 24-years-old fell to 8.5% in February from 9.3% a month earlier as those with more education continue to fare better in a tough labor market than those with less.

People in the same age group with only a high school diploma also experienced a drop in their unemployment rate to 21.8% from 22.7%. Their jobless rate is still more than twice as high as the rate for the entire labor force.

Young people as a whole still aren’t doing well. The jobless rate for people 20 to 24-years-old, regardless of education level, was 16.6% in February. For 18 to 19-year-olds it was 25% and for those 16 or 17 years old, it was 27.4%.

Economic downturns tend to be particularly hard for vulnerable groups such as young people and minorities. During a recession, young people with few skills and little job experience are pitted against older workers who have been laid off but still have decades of experience on their sides.

The unemployment rate for all 45 to 54-year-olds, for example, was 8.4% in February — below the national average.